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The Latest Breaking News from Economic Growth

Welsh economy data ‘isn’t pretty reading’, Conservative ex-Wales secretary warns

Stephen Crabb urged the Westminster Government to do more to boost economic growth in Wales.

The Independent UK

OPEC meeting kicks off with benchmark oil prices under pressure

In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European…

France 24

Cardiff and Swansea lag behind in attracting overseas investment

A new economic study ranks UK cities on their ability to attract foreign direct investment

Birmingham Post

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Stocks to rebound on government optimism - analysts

Thailand’s stocks may rebound in the fourth quarter as the appointment of a new government will likely bolster optimism about the prospects of fiscal stimulus spurring sluggish economic growth, according to a survey of analysts.

Bangkok Post

Two more RBA rate hikes, tumbling inflation, and a high chance of recession: how our forecasting panel sees 2023-24

Of the 27 leading economists assembled by The Conversation to forecast the financial year that’s just begun, every one expects inflation to continue to fall.

The Conversation

China is ‘entering a balance sheet recession’ as borrowers shy away from new debt in a potential replay of Japan's 'lost decades'

China's post-COVID boom has fizzled this year, new data shows. Nomura Research Institute's chief economist warns it's just the beginning of the pain unless the government steps in.

Fortune

Adam Smith 300 years later

This year marks the 300th anniversary of the birth of Adam Smith, the founding father of modern economics. It comes at a time when the global economy faces several daunting challenges.

Bangkok Post

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US economic growth last quarter is revised up to a 2% annual rate

The U.S. economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years, the government said Thursday in a sharp upgrade from its previous estimate

The Independent UK

With ‘Bidenomics,’ President Biden aims for middle-class voters as he discusses economy during Chicago address

CHICAGO — President Joe Biden sought to revitalize support for his reelection among middle-class voters before a Chicago audience Wednesday, branding his efforts at economic growth, job creation and inflation fighting as “Bidenomics” to counter lagging job approval ratings.

Chicago Tribune

World Bank lifts Thailand growth forecast

The World Bank has upgraded its economic growth forecast for Thailand, saying improved performance will be helped by private consumption growth and a recovery in tourism.

Bangkok Post

Crude Oil Prices Close Lower as Economic Concerns Dominate

August WTI crude oil (CLQ23 ) Tuesday closed down -1.67 (-2.41%), and Aug RBOB gasoline (RBQ23 ) closed down -3.27 (-1.33%). Crude oil fell as concern resurfaced about Chinese and global economic growth. ECB President Lagarde Tuesday reiterated hawkish comments. Also, there is no longer any concern about Russian oil...

Barchart

Crude Oil Prices Lower as Economic Concerns Dominate

August WTI crude oil (CLQ23 ) today are down -0.78 (-1.12%), and Aug RBOB gasoline (RBQ23 ) are unchanged. Crude oil are lower today as concern resurfaces about Chinese and global economic growth. ECB President Lagarde today reiterated hawkish comments. Also, there is no longer any concern about Russian oil...

Barchart

China's premier says economic growth is accelerating and the country can hit its 5% target this year

China’s No. 2 leader says economic growth accelerated in the latest quarter and he expressed confidence it can hit the ruling Communist Party’s official target of 5% for the year

The Independent UK

Greece’s New Democracy sets ambitious goals in second term

Party has its work cut out to raise investment, economic growth and wages while lowering debt and unemployment.

Al Jazeera

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Bangkok Post

Headwinds in the third quarter

In the third quarter, we believe the global economy will face three risk factors: economic slowdown, with inflation and interest rates remaining high; risks from tighter financial liquidity; and slower economic growth in China and emerging markets.

StockNews.com

3 Bank Stocks Investors Are After

Although there are some signs of stabilization, the stress in the U.S. banking sector remains high, posing a significant threat to economic growth. With investors still concerned about the viability of the banking system, it could be wise to look beyond borders and invest in quality foreign bank stocks Banco…

The Hindu

Fitch raises India's GDP forecast to 6.3% from 6% for current fiscal year

Fitch Ratings on June 22, 2023 raised its forecast for India’s economic growth to 6.3% for current fiscal year 2023-24 from 6% it had predicted previously

The Hindu

PM Modi meets ‘thought leaders’ in New York

PM Modi met leading American economist Prof. Paul Romer, investor and co-founder of hedge fund Bridgewater Associates, Ray Dalio, and other eminent thought leaders and exchanged views and briefed them about the reform trajectory of his government to foster economic growth

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The New Daily

Pandemic-level growth rates highlight economic ills

Australia is on track for two years of below-trend economic growth that may be even weaker than first feared.

AAP

Consumers keep cutting back as pressures mount

The pullback in non-essential spending continues as households scrimp on nice-to-haves so they can meet higher mortgage repayments.

Tribune News Service

US housing starts surge most since 2016, exceed all estimates

U.S. housing starts unexpectedly surged in May by the most since 2016 and applications to build increased, suggesting residential construction is on track to help fuel economic growth.

Belfast Live

Ulster University's Magee campus gets €56 million funding boost from Irish government

Taoiseach Leo Varadkar said the expansion will 'foster new jobs and economic growth'

Bangkok Post

Drowning in debt

Household debt has long been a concern for Thailand, impeding consumer spending and hindering economic growth.

France 24

Chinese youth unemployment hits record high as Covid recovery weakens

New data shows Chinese economic growth slowing, with property investment in steep decline and youth unemployment at a record high. Also, the US Federal Reserve confirms its "hawkish pause" policy, keeping interest rates steady for now but planning for more hikes. Finally, economists name an unlikely culprit for persistent Swedish…

Tribune News Service

Commentary: By the treasury secretary’s own definition, we’re back in recession

Last month, the Department of Commerce released troubling data on the anemic economy, showing that gross domestic income (GDI) shrank in the previous six months. That’s no surprise to half of Americans who believe we’re currently in a recession, but the data refute President Joe Biden’s claim that the economy…

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